EX-12.1 3 kmi-2017x10kxexh121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
KINDER MORGAN, INC. AND SUBSIDIARIES
EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions except ratio amounts)
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income before adjustment for net income attributable to noncontrolling interests and earnings from equity investments (including amortization of excess cost of equity investments) per statements of income
$
1,644

 
$
1,200

 
$
439

 
$
2,730

 
$
3,150

Add:
 
 
 
 
 
 
 
 
 
Fixed charges
1,959

 
1,977

 
2,174

 
1,921

 
1,785

Amortization of capitalized interest
13

 
13

 
9

 
5

 
6

Distributed income of equity investees
426

 
431

 
391

 
381

 
398

Less:
 
 
 
 
 
 
 
 
 
Interest capitalized from continuing operations
(66
)
 
(77
)
 
(71
)
 
(75
)
 
(52
)
Preference security dividend requirements of consolidated subsidiaries
(8
)
 
—

 
—

 
—

 
—

Noncontrolling interest in pre-tax income of subsidiaries with no fixed charges
(12
)
 
(11
)
 
(4
)
 
(377
)
 
(390
)
Income as adjusted
$
3,956

 
$
3,533

 
$
2,938

 
$
4,585

 
$
4,897

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest and debt expense, net per statements of income (includes amortization of debt discount, premium, and debt issuance costs); also excludes gain or loss on early extinguishment of debt and includes capitalized interest
$
1,904

 
$
1,931

 
$
2,126

 
$
1,882

 
$
1,742

Add:
 
 
 
 
 
 
 
 
 
Portion of rents representative of the interest factor
47

 
46

 
48

 
39

 
43

Preference security dividend requirements of consolidated subsidiaries
8

 
—

 
—

 
—

 
—

Fixed charges
$
1,959

 
$
1,977

 
$
2,174

 
$
1,921

 
$
1,785

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
2.02

 
1.79

 
1.35

 
2.39

 
2.74